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Research Outline

Prepared for Franchon F. | Delivered February 13, 2021

Higher Education Market

Goals

Gain an understanding of Masters and Bachelors level high education institutions in the US and other markets, including revenue and users, in order to support a curriculum developed for higher education in the human services space.

Early Findings

  • In 2020, there were an estimated 17.5 million undergraduate college students in the US, and 4.3 million graduate level students.
  •  75.1% of these students attended public institutions, 24.9% attended private institutions.
  • Total revenues at degree-granting post secondary institutions in the United States were $671 billion in 2018.
  • Public institutions accounted for $409 billion in revenues, private nonprofit institutions for $248 billion, and $13 billion at private for-profit institutions.
  • The majority of bachelor's degrees were in five fields, business (19.1%), health professions (11.9%), social sciences (8%), biological and biomedical science (5.9%), and psychology (5.9%).
  • The average cost for an in-state public college was $9,687 per year, and a private college $35,087 per year.
  • The market for higher education solutions is growing rapidly, projected to increase from $13.7 billion in 2020 to $35.8 billion in 2025.  
  • This market growth is attributed to the growing number of enrollments, increased use of advanced technology for higher education, and collaborations between institutions and enterprises.
  • Private colleges are projected to adopt higher education solutions more rapidly in coming years.
  • International student mobility and increasing government initiatives around education are also projected to create opportunities for education vendors internationally.
  • In the US, it's noted that state universities will have a more pressing need for higher education solutions in order to shift from traditional formats and stay ahead of competitors.